Posts Tagged Income Tax
Ask the Republican and Democrat running for Governor how Virginia’s economy is faring, and you’ll get two very different answers.
Democrat Ralph Northam says the state’s doing well, pointing out that unemployment is the lowest its been in almost a decade. But Republican Ed Gillespie highlights slow economic and wage growth to paint a bleaker picture. And to turn things around, he’s proposing the state’s first tax cut in more than 40 years.
To understand what that would mean for Virginia’s economy, reporter Mallory Noe-Payne enlisted help.
One lawmaker from the Southwest corner of Virginia is pushing a plan to create tax breaks in some of the poorest parts of the state. But as Michael Pope reports, implementing that plan would blast a giant hole in the budget.